{"id":50614,"date":"2024-04-15T23:12:51","date_gmt":"2024-04-15T23:12:51","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=50614"},"modified":"2024-04-15T23:12:51","modified_gmt":"2024-04-15T23:12:51","slug":"if-the-consumer-expects-the-price-to-be-higher-in-the-future","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/if-the-consumer-expects-the-price-to-be-higher-in-the-future\/","title":{"rendered":"If the consumer expects the price to be higher in the future"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;They substitute current purchases for future purchases of perishable goods&#8221; option2=&#8221;Stockpiling will happen when products are durable&#8221; option3=&#8221;The position of the demand will not change&#8221; option4=&#8221;The demand for automobiles today will not change&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>B. Stockpiling will happen when products are durable.<\/strong><\/p>\n<p>When consumers expect the price of a product to be higher in the future, they may stockpile the product in order to avoid paying the higher price. This is especially likely to happen with durable goods, which have a long lifespan and can be used for many years. For example, if consumers expect the price of cars to go up in the future, they may buy a car now in order to avoid paying the higher price later.<\/p>\n<p>Option A is incorrect because perishable goods are goods that have a short lifespan and cannot be stored for long periods of time. If consumers expect the price of perishable goods to be higher in the future, they are more likely to buy less of the good now in order to avoid wasting money on a good that will soon spoil.<\/p>\n<p>Option C is incorrect because the position of the demand curve will shift to the left if consumers expect the price of a good to be higher in the future. This is because consumers will be willing to buy less of the good at any given price if they expect the price to be higher in the future.<\/p>\n<p>Option D is incorrect because the demand for automobiles is a derived demand, meaning that it is derived from the demand for transportation. If the price of transportation goes up, the demand for automobiles will go down.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;They substitute current purchases for future purchases of perishable goods&#8221; option2=&#8221;Stockpiling will happen when products are durable&#8221; option3=&#8221;The position of the demand will not change&#8221; option4=&#8221;The demand for automobiles today will not change&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-50614","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>If the consumer expects the price to be higher in the future<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/if-the-consumer-expects-the-price-to-be-higher-in-the-future\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If the consumer expects the price to be higher in the future\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;They substitute current purchases for future purchases of perishable goods&#8221; 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